It’s no secret that superior data management is the key to long-term success in the iGaming industry. As new, forward-thinking, technologies come increasingly into play, operators now have a golden opportunity to build and enhance the digital revolution.
Blockchain and Ai are by no means the newest technological conceptions to hit the market. But their full potential has not yet been released. Until recently.
David Eynon of River Tech believes it’s time for the iGaming industry to rethink its data management strategies — and ask the questions that we haven’t thought about asking.
We caught up with the CEO to hear more.
The potential for new Ai powered and data-driven tech products to transform the iGaming industry is recognised by many; but what can operators do to take better advantage of this, and ensure it plays a key role in their future growth?
“It’s vitally important to have an Ai data strategy. Analysis of data is the driver for any online business and iGaming is no different. From gaining a licence to onboarding, retaining and servicing your players; operators need a secure, accessible and managed product.
“With the industry’s continued reliance on data, and the speed required to keep ahead of the curve, Ai will play a major role in data analysis. Every department utilises data and if we can have pre-built triggers to put the problems and solutions in front of the operator, they can act faster and create an edge over competitors.
“Ai will not only manage the analysis but it will ask the questions we haven’t thought about asking: remove the human element of data analysis and see where Ai can find trends, map consistency and pin-point areas of concern. All this in a split second and around the clock.
“We have only touched the surface of what Ai can do for us. I believe that with continuous evolution of the technology we can achieve a much better product for our clients, partners and end users.”
How will your new partnership with Tech4s enable River Tech to better serve the industry going forward?
“First and foremost the new partnership gives us the funding to accelerate our R&D into new technologies, and this will facilitate ongoing growth for our current and future partners in and around the iGaming industry.
“We are excited to start this journey and have already started working on the earlier stages of understanding what we can adapt to take us to our end goal and provide Tech4s, and industries outside of iGaming, with a forward-thinking advanced technology platform.”
As the industry begins to shift focus to growth strategies built around pioneering technology, how will this impact River Tech’s structure and strategy?
“As a platform we have followed the traditional development methods, adding our level of expertise and unique style to give our current clients a market-leading product. But as with everything tech-based, we also need to focus on two main areas. We want to be ahead of the curve and learn and develop new ways of thinking and doing. And we also want to continuously support the needs and specific requests of our current and future clients both within and outside of iGaming.
“As a software development company, we rely on third parties and we are excited to have them involved in this project. The platform we have today is modular, and that allows us to be flexible; adding and removing parts where necessary. This is exactly how we will strategize new projects with third parties. We have commenced talks with game suppliers, payment aggregators and affiliates, and expect this to expand to anyone we are working with.”
Blockchain technology is agreed by many to be a potential market disruptor. What role do you think decentralised products will play in the future growth of our industry?
“The gambling industry has always had its fair share of bad press. In so many ways the industry has a poor reputation. As a compliance officer and now CEO, I have worked with regulations and regulators for many years and can say this image is very much undeserved. Strict rules, RNGs and mathematics put players on a fair playing field; although one has to concede that many operators keep the fairness hidden behind complicated terms and conditions and legal jargon with a lack of transparency, which leaves players feeling cheated if they lose.
“In my opinion blockchain can provide the security for both player and operator, whilst decentralised products can provide the transparency the player requires without compromising the operator’s USP.”
Editor’s Note: David clearly sees the continuous evolution of technology as an opportunity for the iGaming industry to grow and better serve its customers. New products effectively integrating Blockchain and Ai based capabilities offer operators the opportunity to understand their players’ behaviour like never before, which, if managed correctly, can be a true value addition to both server and customer.
Partnerships such as River Tech and Tech4s are a great example of the progress our industry is making towards a sustainable, transparent and enriched market open to all.